Common use of Area of Interest Clause in Contracts

Area of Interest. 9.1 If either party or any of its Affiliates stakes or otherwise acquires any interest in mineral claims or any other form of mineral tenure (the “AOI Tenure”) located wholly or partly in an area (the “Area of Interest”) within five kilometres from any portion of the Property as it exists at the Effective Date, the acquiring party (the “Acquiring Party”) will forthwith give notice to the other party (the “Non-Acquiring Party”) of such staking or acquisition, the costs thereof and all details in its possession with respect to the nature of the AOI Tenure and the known mineralization thereon. Upon delivery of such notice, the Non-Acquiring Party may elect by notice to the Acquiring Party to require that such AOI Tenure be included in and thereafter form part of the Property. If the Non-Acquiring Party so elects and if such AOI Tenure was staked or acquired by the Optionee or any of its Affiliates, the staking or acquisition costs will constitute Expenditures. If the Non-Acquiring Party so elects and if such AOI Tenure was staked or acquired by the Optionor or any of its Affiliates, the Optionee will reimburse the Optionor for the staking or acquisition costs, which reimbursed costs will also constitute Expenditures. Mineral properties held by the Optionee prior to the Effective Date will be excluded from the Area of Interest.

Area of Interest. 9.1 11.1 If either party or any of its Affiliates stakes or otherwise acquires any interest in mineral claims or any other form of mineral tenure (the “AOI Tenure”) located wholly or partly in an area (the “Area of Interest”) within five kilometres from any portion of the Property as it exists at the Effective Date, the acquiring party (the “Acquiring Party”) will forthwith give notice to the other party (the “Non-Acquiring Party”) of such staking or acquisition, the costs thereof and all details in its possession with respect to the nature of the AOI Tenure and the known mineralization thereon. Upon delivery of such notice, the Non-Acquiring Party may elect by notice to the Acquiring Party to require that such AOI Tenure be included in and thereafter form part of the Property. If the Non-Acquiring Party so elects and if such AOI Tenure was staked or acquired by the Optionee or any of its Affiliates, the staking or acquisition costs will constitute Expenditures. If the Non-Acquiring Party so elects and if such AOI Tenure was staked or acquired by the Optionor or any of its Affiliates, the Optionee will reimburse the Optionor for the staking or acquisition costs, which reimbursed costs will also constitute Expenditures. Mineral properties held by the Optionee prior to the Effective Date will be excluded from the Area of Interest.

Area of Interest. 9.1 If either party ‌ If, during the Option Period, a Party or any of its their Affiliates (an “Acquiring Party”) stakes or otherwise acquires any interest in mineral claims or any other form of mineral tenure Mineral Rights (the “AOI TenureMineral Rights”) located wholly or partly in an area within three (3) km of the outside boundaries of the Property (the “Area of Interest”) within five kilometres from any portion of the Property as it exists at the Effective Date), the acquiring party (the “Acquiring Party”) will Party shall forthwith give notice to the other party (the “Nonnon-Acquiring Party”) acquiring Party of such staking or acquisition, the costs thereof and all details in its possession with respect to the nature of the AOI Tenure Mineral Rights and the known mineralization thereon. Upon delivery of such notice, the Non-Acquiring Party may elect by notice to the Acquiring Party to require that thereon and such AOI Tenure Mineral Rights will be included in and thereafter form part of the Property, subject to as outlined below. If the Non-Acquiring Party so elects and if such AOI Tenure was staked is the Optionee, its staking or acquired by acquisitions costs shall constitute Exploration Expenditures. If the Acquiring Party is either of the Optionors, in whole or in part, the Optionee shall have the right to decline or any accept the AOI Minerals Rights as part of the Property in its Affiliatessole discretion, and should it accept the AOI Mineral Rights, the Optionors shall be reimbursed their staking or acquisition costs will constitute Expenditures. If the Non-Acquiring Party so elects and if such AOI Tenure was staked or acquired by the Optionor or any of its Affiliates, the Optionee will reimburse the Optionor for the staking or acquisition costsOptionee, which reimbursed costs will also constitute Expenditures. Mineral properties held be payable in cash by the Optionee prior to the Effective Date will be excluded from Acquiring Party forthwith upon acceptance of such AOI Mineral Rights by the Area Optionee and in any event on or before the expiry of Interestthe Option Period, and shall constitute Exploration Expenditures.